Quote of the Day
"Private equity sucks the good out of American products and businesses."
(Ken Bui)
Markets
- Sam Ro, "I think we sometimes take for granted how much the frictions and costs have come down for those seeking to trade or invest in stocks." (tker.co)
- Has sentiment already peaked? (allstarcharts.com)
Strategy
- Cullen Roche, "Insurance is designed to provide you with short-term certainty around an uncertain outlier event. And when cash is yielding a high real return I think you can argue that cash is the ultimate portfolio insurance." (disciplinefunds.com)
- An excerpt from William Bernstein's new book "The Four Pillars of Investing." (humbledollar.com)
Finance
- Ken Bui, "Private equity sucks the good out of American products and businesses." (luxcapital.com)
- Big banks are reliant on the business of multi-strategy hedge funds. (ft.com)
- How Schwab ($SCHW) plans to profit from integrating TD Ameritrade retail customers. (riabiz.com)
Global
- Johanna Chisholm, "Recovering the land will be a massive part of Ukraine’s reconstruction." (wired.com)
- Why Egyptian men are fleeing to Europe. (npr.org)
Social Security
- Raise Social Security taxes now before it becomes too painful. (crr.bc.edu)
- Why retirees take Social Security benefits early. (thinkadvisor.com)
Health care
- Given how much the U.S. spends on health care, it's shocking we don't have universal coverage. (nytimes.com)
- Medicare Advantage providers are raking in the cash. (crfb.org)
- Big Pharma is doing all it can to avoid negotiating with Medicare about drug prices. (nytimes.com)
- The Great Recession had a notable impact on reported pain. (papers.ssrn.com)
Policy
- Silicon Valley's political instincts are a mess, at best. (danieldrezner.substack.com)
- The presidential election cycle is too darn long. (thedailybeast.com)
- Tennessee no longer effectively operates as a democracy. (anneapplebaum.com)
Economy
- Why haven't higher interest rates wrecked the economy already? (awealthofcommonsense.com)
- The economic schedule for the coming week. (calculatedriskblog.com)
Earlier on Abnormal Returns
- Top clicks this week on the site. (abnormalreturns.com)
- What you missed in our Saturday linkfest. (abnormalreturns.com)
- Are you a financial adviser looking for some out-of-the-box thinking? Then check out our weekly e-mail newsletter. (newsletter.abnormalreturns.com)
